Harvest Fund Management Co. Ltd Trims Position in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Harvest Fund Management Co. Ltd drastically reduced its holdings in Generac Holdings Inc. by 86.2%, owning only 211 shares after selling 1,320 shares during the first quarter, which brought down their stake's value to $27,000.
• Hedge funds and institutional investors collectively own 84.04% of Generac's stock, reflecting strong institutional interest amidst varied analyst ratings, with eleven buy ratings and six hold ratings assigned.
• Analysts have increased their target prices for Generac shares with Stifel Nicolaus and UBS raising theirs to $210.00 and $220.00 respectively, indicating a generally positive outlook on the stock.

Harvest Fund Management Co. Ltd cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 86.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 211 shares of the technology company's stock after selling 1,320 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Generac were worth $27,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nebula Research & Development LLC purchased a new position in shares of Generac during the 4th quarter valued at approximately $3,638,000. Pinebridge Investments L.P. increased its holdings in shares of Generac by 28.1% during the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock valued at $10,697,000 after purchasing an additional 15,147 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Generac by 19.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock valued at $929,000 after purchasing an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Generac during the 1st quarter valued at approximately $245,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Generac by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after purchasing an additional 3,345 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GNRC shares. Stifel Nicolaus lifted their target price on shares of Generac from $195.00 to $210.00 and gave the company a "buy" rating in a report on Thursday. UBS Group lifted their target price on shares of Generac from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. TD Securities dropped their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays set a $200.00 price target on shares of Generac and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Piper Sandler dropped their price target on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and a consensus target price of $174.28.

Generac Trading Down 0.6%

Shares of GNRC opened at $193.57 on Friday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $197.18. The company has a quick ratio of 0.89, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The firm's fifty day moving average is $142.00 and its two-hundred day moving average is $134.66. The stock has a market cap of $11.44 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.76 and a beta of 1.67.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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